Silicon Laboratories (NASDAQ:SLAB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Silicon Laboratories (NASDAQ:SLAB) to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Zacks Research lowered Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $218.00.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $221.70 on Friday. The firm has a 50 day simple moving average of $220.01 and a 200-day simple moving average of $217.46. Silicon Laboratories has a one year low of $115.50 and a one year high of $223.50. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of -187.88 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The firm had revenue of $228.19 million during the quarter, compared to analysts’ expectations of $227.99 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities analysts predict that Silicon Laboratories will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the stock. S Squared Technology LLC purchased a new stake in shares of Silicon Laboratories during the 2nd quarter worth approximately $2,345,149. California State Teachers Retirement System boosted its holdings in shares of Silicon Laboratories by 21.5% in the 1st quarter. California State Teachers Retirement System now owns 38,003 shares of the semiconductor company’s stock valued at $7,910,000 after buying an additional 6,737 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Silicon Laboratories by 43.6% in the 2nd quarter. Hsbc Holdings PLC now owns 307,503 shares of the semiconductor company’s stock valued at $67,455,000 after buying an additional 93,432 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Silicon Laboratories in the 2nd quarter valued at $5,431,000. Finally, HBK Investments L P purchased a new position in shares of Silicon Laboratories in the 2nd quarter valued at $218,560,000.

Silicon Laboratories Company Profile

Silicon Laboratories Inc is a fabless semiconductor company focused on wireless connectivity solutions for the Internet of Things (IoT). The company develops technologies that enable connected devices to communicate, sense, and operate efficiently across residential, commercial, industrial, and consumer applications.

Its product portfolio includes wireless system-on-chips, microcontrollers, modules, sensors, development kits, software, and development tools. Silicon Labs supports technologies and protocols such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, and proprietary sub-GHz wireless communications.